LZG INTERNATIONAL, INC. NEW YORK, April 26, 2023 /PRNewswire/ -- FatBrain AI (LZG International, Inc., OTCQB: LZGI) (the "Company," or "we"), the leader in powerful and easy-to-use AI solutions for enterprise stars of tomorrow, issued a shareholder update from CEO Peter B. Ritz. The shareholder update is included in its entirety below and can be found on FatBrain AI's website at www.FatBrain.AI.
Dear Fellow Shareholders:
On behalf of FatBrain AI (LZG International, Inc., OTCQB: LZGI) Board of Directors, our global solutions team and our clients, we are grateful and delighted to have you as a shareholder, a valued part of the FatBrain AI family.
We reported over $9.55M in the Dec'22-Feb'23 revenue cycle, with guidance to gain $22.88M revenue in Mar'23. On a consolidated basis, our trailing twelve months (TTM) revenue as of Mar'23 projects $44.01M, with calendar 130% Q/Q growth rate on average.
We continue to streamline operations with our unified global team and integrated structure for scalable growth. While we do not have plans to acquire other companies at this time, we are tracking a $587M pipeline in new acquisitions across 27 businesses which score high on our accretive AI Solutions scale.
Our customers can boost productivity, process automation and personalization using our AI solutions, knowledge cloud, peer intelligence across targeted markets, including:
(i) Retail intelligence for 4.5M ecommerce businesses globally;
(ii) Digital compliance through chambers of commerce (e.g., 350K strong in KZ);
(iii) P&C Insurance intelligence for independent agents (e.g., 330K in US/UK);
(iv) Cashflow forecasting and foreign exchange (e.g., 149K import/exporters US);
(v) Trade risk, intelligence (e.g., 112K suppliers to a sovereign fund KZ).
To this end, we have expanded a distribution relationship with a global systems integrator with a nine-figure insurance business. We have also won a strategic supplier contract with a ministry of digital transformation, innovation and aerospace.
The market for AI Solutions projects a massive impact at global scale. According to PwC analysis, accelerating AI uptake will increase global GDP by 14% by 2030, or additional $15.7 trillion, driven by increased client demand and productivity gains from process automation, augmented decision-making and personalization.
These market tailwinds project to accelerate our mission to become the world's leading provider of AI solutions for the enterprise stars of tomorrow. We greatly appreciate the confidence you have shown in us and look forward to earning your continued support.
With kindest personal regards,
Peter B. Ritz
Co-founder and CEO
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
About FatBrain AI (LZG International, Inc., OTCQB:LZGI):
FatBrain AI provides powerful and easy-to-use AI solutions to empower the star enterprises of tomorrow (SMEs) to grow, innovate, and drive the majority of the global economy. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's subscription model allows all companies to deploy its advanced AI solutions quickly and easily, securely utilizing them on premises behind their firewalls or via cloud. FatBrain's global footprint includes design and development centers in the US, UK, India, and Kazakh Republic.
For more information, please visit: https://www.fatbrain.ai
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